As a part of our secondary education, we might know the basics of web development, running a program, etc. But, to establish in the real-life marketplace, we need more than that. Today, the knowledge of web development, software development, app development, etc is very demanding. Because they have a very huge potential to grow in the future. The IT sector is booming and yet many individuals are just scared to put their idea in front. They think what if it is not good enough and the business fails. Well, you have the right to be in a dilemma but you cannot step out. Builder.ai is a software which through the help of its platform helps you to build a website, an app, an e-commerce platform, and many more. Sachin Dev Duggal founded the company in 2013. The company is based in London, United Kingdom. Builder.ai uses a library of reusable features which along with the implementation of AI gives your idea a shape. Through this platform, you can work more time efficiently and at a cheaper price to pay.
About Sachin Dev Duggal
Sachin is a serial entrepreneur. He went to Imperial College London and acquired his bachelor’s degree in Information Systems. To complete his master’s he went to Massachusetts Institute of Technology & Entrepreneurship Organization and graduated in 2011. Sachin worked at Deutsche Bank AG as an Advisor & Consultant for five years.
In 2004, he founded Nivio and served as the Chief Wizard for eight years. He also co-founded shoto in December 2012. Currently, he is the CEO of the company, Builder.ai that he founded in 2013.
Why Sachin built Builder.ai?
Sachin’s vision is for the betterment of the entrepreneurial network throughout the globe. He wanted to launch software that would help people get the idea of his or her business before investing. Because it is important to witness a prototype of your product before launching it publicly. So, Sachin made it very sure taking care that no expert advice is needed and no huge capital.
Experience matters
Sachin was very well-experienced in the business world. Before founding Builder.ai, he founded two other companies. His first start-up Nivio was the world’s one of the first cloud computing company. Sachin had a very clear vision of the business world from a very young age. He was only seventeen when he worked at Deutsche Bank making him the youngest employee in the company.
Sachin’s main point of interest lied in how to bring down the price of building an app. To make it happen, he founded Builder.ai along with Saurabh Dhoot. They knew each other from the university.
The business model
The way how the platform of Builder works is very interesting. Since the software uses AI to analyze the idea of a business, the output is better where there are many users. Because, when plenty of people build a similar product, the rigorous use of the marketplace brings down the cost. Sachin also says that the prediction is 100% true.
Once you create an application in the platform of Builder, you need to buy insurance followed by other services. Otherwise, many people would just buy the application and stop using it though the platform is cheaper.
Success of Builder.ai
Sachin sold Nivio for $100 million and used it as a capital investment for Builder.ai. He didn’t spend the entire money in it. Sachin wanted to minimize the investment in turn for profitable cash flow. When they were testing the platform, many people were willing to pay with a credit card. It was just a public beta and that was unexpected.
Initially, the company has 5 members which expanded to 150 by 2018. They grew 180% of its original size within six years of launching the business. Their main offices are in London, Los Angeles, San Francisco, Mumbai, Delhi, etc.
Piece of advice from Sachin
Sachin says that it is very important to spend money judiciously. Instead of thinking that someone is investing in your company, you should spend like it is your own money. Because one should always consider how to minimize the investment for maximum profit. And, when it comes to online platform always keep your customers engaged and updated.
Also, doing something to catch your customer’s eye is important. So, do something extra and make them come back to your service.
Annasha Dey is an NIT student, who apart from studying engineering is also a content writer. She has a great interest in photography, writing, reading novels, and travelling as well. She is a foodie who loves socializing and hanging out with her friends. She is also a trained Kathak dancer and a big fashion enthusiast. Dey also loves watching TV series, which includes F.R.I.E.N.D.S. and Big Bang Theory. To be a better writer she prefers to read more